Lithium

Liontown builds on its lithium success with positive drill results at Buldania

Mon 21 Mar 22, 11:52am (AEST)
Drilling - heavy machinery drill holes to place explosive in holes to blast the rock in open cut mine
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Key Points

  • Positive drilling results confirms growth potential at Liontown's Buldania Project
  • Drilling has been focused on the pegmatite bearing Anna Deposit
  • The emerging Northwest Prospect is an opportunity for further follow up exploration

Liontown Resources (ASX: LTR) shares rallied 8% in early-trade following positive drill results at its Buldania Lithium Project in WA.

For the uninitiated, Buldania is Liontown’s second hard-rock lithium project located in the same region as Allkem’s (ASX: AKE) Mt Marion project.

Drill results confirms growth potential

Liontown received all assays from a recently completed drilling program aimed at resource growth and new discoveries.

Drilling has been focused on the Anna Deposit, which previously confirmed a significant new lithium discovery with a maiden resource of 1.5m tonnes at grades of 1.0%.

The assays returned typical lithium grades ranging between 0.5% and 1.6% at intersections between 3-21m.

Liontown said further drilling is planned prior to updating the Anna mineral resource estimate.

Another prospect was identified at Buldania known as the Northwest prospect.

Recent drilling has intersected “multiple spodumene-bearing pegmatites” and further drilling is planned to determine the size and continuity of the findings.

Liontown said these results reinforce Buldania as “an emerging asset of comparable size and quality to several recent lithium discoveries.” 

“The expanding Northwest Prospect presents an exciting opportunity for further follow up exploration and, along with the potential for incremental extension of the Anna Deposit, ensures that Buldania continues to emerge as an attractive asset," commented Liontown CEO Tony Ottaviano.

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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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